Cluster Analysis Has Been Used in Marketing for All of the Purposes

question 55

Multiple Choice

Cluster analysis has been used in marketing for all of the purposes below except ________.

• A)segmenting the market based on benefits sought from the purchase of a product
• B)identifying new product opportunities by clustering brands and products so that competitive sets within the market can be determined
• C)selecting test markets
• D)determining how strongly sales are related to advertising expenditures

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Definitions:

Company's Location

The physical place where a company is situated or conducts its business operations.

Pioneering

The act of being the first to do something within a certain field or industry, often leading to innovation and new developments.

Philip Morris

Philip Morris International is a multinational cigarette and tobacco manufacturing company, known for its production and sale of cigarettes and other nicotine-containing products.

Altria

A leading tobacco company known for owning some of the most popular cigarette, cigar, and smokeless tobacco brands.